SBI mulling infotech JV
Mumbai: The State
Bank of India is planning to enter information technology
business. It is considering setting up a joint venture company
along with a partner possibly from abroad. A bank source said the
bank may engage the services of a consultant to draw up a
technology plan, which will facilitate the bank to set up the
joint venture. In the first instance, the plan will identify the
information technology needs of the bank and its seven
associates. At a later stage, the plan will be enlarged to set
up the joint venture company.
The bank has
estimated that it may spend nearly Rs 500 crore for the
information technology needs in the next three years.
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Peerless
explores alternative income sources
Calcutta: Peerless Finance and General Insurance Company is
approaching the Reserve Bank of India to seek approval for
deploying its funds in badla finance, private mutual funds and
corporate debt instruments. The company is also considering making
use of its network for marketing equity issues and insurance
products. These form part of the companys plans for alternative
sources of income.
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MTNL
plans new technology for Internet
New Delhi: Mahanagar Telephone Nigam Ltd. is
introducing higher bandwidth Internet services using the highly sophisticated
digital subscriber line technology. It will also offer this
network to private Internet service providers. Digital subscriber
line is the latest communication technology, which enhances the
speed of the Internet even while using the regular telephone
lines. The service will be made available to some 2,000
subscribers in Delhi and Mumbai shortly.
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Insurer
Aetna to split operations
Hartford: Health insurance company Aetna is splitting its
operations into two global units covering health and financial
services. The proposed global health unit will consist of Aetna US
Healthcares business and Aetna Internationals health
businesses. The global financial services unit will consist of
Aetna Financial Services, the life and pension business of Aetna
International and the group insurance business, which is now part
of Aetna US Healthcare.
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